General Mills announced today the acquisition of Food
Should Taste Good, a rapidly-growing natural snack foods company
based in Needham Heights, Mass.

Food Should Taste Good will become part of Small Planet Foods, General
Mills’ natural and organic products business and will join the
division’s category-leading Cascadian Farm, Muir Glen, and LÄRABAR
brands.

“This acquisition further positions us for continued growth with a great
new brand in an entirely new category in our natural and organic
business,” said Michele Meyer, president of Small Planet Foods. “Food
Should Taste Good is a strong brand with high-quality products and
tremendous potential – and we are fully committed to maintaining the
great-tasting, all-natural Food Should Taste Good snacks that consumers
love.”

Pete Lescoe founded Food Should Taste Good in 2006 with the goal of
making a unique new snack with great taste, healthy ingredients, and
sophisticated flavor – the qualities he is most passionate about in
food. Today, Food Should Taste Good has grown to become one of the
largest natural snack brands in the U.S., and makes natural tortilla
chips in a variety of distinct flavors such as Sweet Potato, Lime,
Olive, Chocolate, Multigrain, and Jalapeno. Food Should Taste Good’s
product portfolio also includes kettle cooked sweet potato chips and
other natural snacks.

Lescoe will continue with the business as creative director.

“I’m proud of the rapid growth and success Food Should Taste Good has
achieved, and I look forward to working with Small Planet Foods and
General Mills to continue this momentum,” said Lescoe. “With its legacy
of food innovation and quality, portfolio of iconic brands and leading
corporate social responsibility efforts, General Mills is a perfect fit
for Food Should Taste Good.”

Food Should Taste Good products compete in the natural and organic salty
snacks category ─ a segment that has experienced double-digit sales
growth for the past two years and that has outpaced the growth of the
broader salty snacks category. Food Should Taste Good snacks are sold at
club, natural, and traditional retailers in the U.S. and Canada.

Terms of the deal were not disclosed.

Small Planet Foods was established in 2000 when General Mills purchased
the Cascadian Farm and Muir Glen businesses. Since that time, General
Mills has established a strong U.S-based natural and organic business
that has grown at a double-digit compound annual growth rate. The
company added the all-natural LÄRABAR brand to the Small Planet Foods
portfolio in 2008 and, with the purchase of Food Should Taste Good, now
competes in 14 categories in the fast-growing natural and organic
segment.

About General Mills:General Mills is one of the world’s
leading food companies, operating in more than 100 countries. Its
consumer brands include Cheerios, Häagen-Dazs, Nature Valley, Yoplait,
Betty Crocker, Pillsbury, Green Giant, Progresso and Old El Paso.
Headquartered in Minneapolis, Minnesota, USA, General Mills had fiscal
2011 net sales of US$14.9 billion.